The Wall Street Journal CEO Compensation Study analyzed CEO pay for many U.S. companies with fiscal year 2008 revenue of at least $5 billion that filed their proxy statements between October 2008 and March 2009. The data are in the file P02_30.xlsx.
a. Create a new variable that is the sum of salary and bonus, and create a box plot of this new variable.
b. As the box plot key indicates, mild outliers are observations between 1.5 IQR (interquartile range) and 3.0 IQR from the edge of the box, whereas extreme outliers are greater than 3 IQR from the edge of the box. Use these definitions to identify the names of all CEOs who are mild outliers and all those who are extreme outliers.